Claranova

Overview
Price performance
Financials
Research
Thematics

Claranova consists of three businesses focused on mobile and internet technologies: PlanetArt (digital photo printing; personalised gifts), Avanquest (consumer software) and myDevices (IoT).

PlanetArt is evolving from a digital photo printing business into a personalised e-commerce business and is focused on expanding its product offering geographically. Avanquest, the consumer software business, is focused on developing and marketing software in three key product areas: PDF, photo editing and security/privacy. The IoT business’s myDevices platform provides a simple and effective way for SMEs and corporates to deploy IoT applications.

Latest Insights

TMT |
Update

06.08.24

Claranova — Building the foundations for profitable growth

TMT |
Update

08.05.24

Claranova — EBITDA improvement across all divisions

TMT |
Update

12.02.24

Claranova — Guiding to strong H124 EBITDA growth

TMT |
Outlook

13.12.23

Claranova — Moving closer to 10% EBITDA margin target

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Sector

TMT

Equity Analyst

Katherine Thompson

Director

Key Management

Eric Gareau

CEO
Marc Goldberg

Chairman

Balance Sheet

Forecast net debt (€m)

102.4

Forecast gearing ratio (%)

4267

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(10.3)	(9.6)	(10.2)
Relative	(5.2)	(6.1)	(9.5)
52 week high/low	€2.9/€1.3

Financials

Claranova reported FY24 results with revenue of €496m (-2% y-o-y) and adjusted EBITDA of €46m (our forecast: €44m), resulting in an adjusted EBITDA margin of 9.3%, close to the company’s 10% target. The company also announced the results of its strategic review, introducing ‘One Claranova’. This calls for the PlanetArt and Avanquest divisions to work more closely together, including sharing best practice and seeking cost synergies, while disposing of myDevices, as it is no longer deemed to be a core business. We are reviewing our forecasts.